Associated Banc (NYSE:ASB) Announces Earnings Results

Associated Banc (NYSE:ASB) issued its earnings results on Thursday. The bank reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03, Briefing.com reports. The company had revenue of $322.84 million for the quarter, compared to the consensus estimate of $325.00 million. Associated Banc had a net margin of 6.86% and a return on equity of 8.33%. Associated Banc’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.66 earnings per share.

Associated Banc Stock Up 0.9 %

Shares of Associated Banc stock opened at $21.57 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.87 and a current ratio of 0.88. Associated Banc has a one year low of $14.47 and a one year high of $22.16. The company has a market cap of $3.25 billion, a P/E ratio of 21.79, a PEG ratio of 1.26 and a beta of 1.00. The firm has a fifty day moving average of $20.79 and a two-hundred day moving average of $19.75.

Associated Banc Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.88 dividend on an annualized basis and a yield of 4.08%. Associated Banc’s payout ratio is currently 88.89%.

Wall Street Analysts Forecast Growth

ASB has been the topic of a number of research analyst reports. Piper Sandler boosted their price target on shares of Associated Banc from $21.50 to $23.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. Stephens reissued an “equal weight” rating and issued a $23.00 price target on shares of Associated Banc in a research note on Friday. Barclays boosted their price target on shares of Associated Banc from $22.00 to $24.00 and gave the company an “equal weight” rating in a research note on Friday. Royal Bank of Canada restated a “sector perform” rating and issued a $23.00 price objective on shares of Associated Banc in a report on Tuesday, April 9th. Finally, Wells Fargo & Company lifted their price objective on shares of Associated Banc from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $23.13.

Insider Transactions at Associated Banc

In other news, Director Eileen A. Kamerick sold 5,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $21.02, for a total transaction of $105,100.00. Following the transaction, the director now directly owns 50,126 shares of the company’s stock, valued at approximately $1,053,648.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP John A. Utz sold 14,010 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $21.20, for a total value of $297,012.00. Following the sale, the executive vice president now directly owns 89,880 shares of the company’s stock, valued at approximately $1,905,456. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Eileen A. Kamerick sold 5,000 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $21.02, for a total transaction of $105,100.00. Following the completion of the sale, the director now directly owns 50,126 shares in the company, valued at $1,053,648.52. The disclosure for this sale can be found here. Insiders have sold a total of 21,710 shares of company stock valued at $454,897 in the last ninety days. 1.45% of the stock is currently owned by company insiders.

About Associated Banc

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.